In this week's IS digest, we will delve deeper into the news about a recent incident and explore the outcomes of new research.

Cyber risks endanger all companies and organizations, regardless of their sphere of business activity. This was once again confirmed with the recent security incident, which affected Agropur, food industry company. As it was reported, Agropur, a Canadian dairy cooperative, recently experienced a data breach. On June 28, the company notified its customers about a cyber incident that exposed some of its shared online directories. In the notification email, it was stated that “critical transaction systems, which handle essential business operations, were not impacted by this cyber incident.”

There is no evidence that the exposed customer data has been misused yet. Agropur immediately initiated an investigation. However, the company's spokesperson did not specify the details of the incident or the investigation. 

However, some positive details came to light recently as well. On the news of an increasing number of cyber incidents, the annual report from Howden, a global insurance broker, states that cyber insurance premiums are falling worldwide as businesses become more adept at limiting their losses from cybercrime. How is this happening? 

Well, insurance premiums to protect companies against cyberattacks soared in 2021 and 2022 as the COVID-19 pandemic drove cyber incidents. However, in 2023–2024, the cyber insurance market saw double-digit price reductions. 

Sarah Neild, the head of UK cyber retail at Howden, said that clients have become more robust thanks to implementing simple yet effective measures such as multifactor authentication to protect data. This has led to a reduction in cyber insurance claims. 

If you want to be among those leaders who succeed in protecting their businesses from cyber threats, you might like the idea of implementing a managed security service. Click here and start your journey towards digital safety.